Microinsurance India

LIC launches new microinsurance policy for Microfinance sector

The Life Insurance Corporation of India on Friday launched its second micro insurance product ‘Jeevan Mangal’. The first being ‘Jeevan Madhur’, an Endowment Assurance plan and ‘Jeevan Mangal’ are customized offerings to cater to the distinct needs of the most vulnerable low income sections of Indian population.

lic micro insurance

‘Jeevan Mangal is a term assurance plan with return of premium on maturity providing for a sum assured (risk cover) ranging from minimum of Rs 10,000 to maximum of Rs 50,000 with an optional accident benefit rider, together providing for total death benefit equal to double the sum assured, on death due to accident.

Flexible modes of premium payment have been provided ranging from weekly, fortnightly, monthly, quarterly, half-yearly, annually and a single premium payment option has also been provided.

IE

Jeevan Mangal Presentation

Abhay N

Author : 

Abhay is the founder and managing editor of India Microfinance. He is passionate about microfinance, financial inclusion and social entrepreneurship in India.

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